EMC Buys Into Cloud Computing with Pi Acquisition

EMC Corp. has acquired a startup still in stealth called Pi Corp. in
an all-cash transaction for an undisclosed amount.

Pi Corp. founder and CEO Paul Maritz will join EMC as president and
general manager of EMC’s newly created best cloud storage infrastructure and
Services Division, reporting directly to EMC CEO Joe Tucci. The new
division will also include the EMC Fortress SaaS infrastructure, the
Mozy online backup service and “other upcoming EMC cloud
infrastructure systems and software offerings under development.”

This is interesting to me as I see it as the “new next big thing”.

Currently the only people really loud in this space are Google and Amazon.

I highly doubt we will see much come out of either party until the very soonest Q2 2008 (Mozy update), but expect a product by year-end.